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Redeye updates on Zordix following its Q4-results where revenue came in slightly above our forecasts while EBITDA was lower than expected. While we trim our EBITDA-estimates with 8-10% for 2023-24E we see potential for stronger profits going forward. This is supported by the company’s accelerated transition towards an increased share of revenue from games from own IP’s, following the launch of Maximum Entertainment as a new global entertainment group.
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